A father-of-three is being remembered as a larger than life character after he died when his boat smashed into a moored yacht in Sydney.

Emergency services rushed to the Parramatta River at Hunters Hill last night when a 900-horsepower vessel crashed into the yacht.

CCTV captured the moment of impact, with the force pushing the yacht forward.

Shane Florio, 46, and his female passenger, 25, were injured and swam to shore.

Paramedics rushed the pair to the Royal North Shore Hospital. 

Florio died from his critical injuries and the woman was later released. 

Florio’s family shared with 9News tonight that he lived life to the fullest. They mentioned he had a thriving demolition business and was dedicated to his children.

NSW Police acting Inspector Ryan Spong said the situation was “devastating” for his family.

“Events like these have a profound impact on families,” they expressed. “They also affect first responders who must deliver these difficult messages and can even result in life-long injuries for individuals.”

The boat, valued at more than $500,000, is now with water police at Balmain.

Spong said there was “extensive damage” to the boat.

“The impact was so severe that it actually immediately sunk the vessel that was on the mooring too,” he said.

“So you know that indicates the collision was quite intense.”

Police are trying to work out whether speed or alcohol were factors in the crash.

9News understands they have yet to speak with the woman on board.